{"id":133155,"date":"2020-04-15T10:25:50","date_gmt":"2020-04-15T17:25:50","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=133155"},"modified":"2020-04-15T12:44:27","modified_gmt":"2020-04-15T19:44:27","slug":"harris-bets-eldorado-caesars-takeover-will-happen-no-date-offered-up","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/harris-bets-eldorado-caesars-takeover-will-happen-no-date-offered-up\/","title":{"rendered":"Former Nevada Gaming Control Chair Bets Regulators Will Approve Eldorado Caesars Takeover"},"content":{"rendered":"

Former Nevada Gaming Control Board Chairwoman Becky Harris believes regulators will sign off on Eldorado Resorts Inc.’s (NASDAQ:ERI) $17.3 billion acquisition of rival Caesars Entertainment Corp. (NASDAQ:CZR). But she didn’t offer a guess as to when that might happen.<\/p>\n

\"NGCB
Former NGCB Chairwoman Becky Harris sees Eldorado’s pursuit of Caesars making it to the finish line. (Image: Barron’s)<\/figcaption><\/figure>\n

The deal \u2013 announced last June \u2013 hit regulatory roadblocks because of the coronavirus outbreak. The pandemic is forcing state gaming agencies in Indiana, Nevada, and New Jersey to postpone meetings<\/a> at which the transaction was slated to be discussed. The Federal Trade Commission (FTC) is waiting on those approvals before it weighs in on an acquisition that will create the largest domestic gaming company by number of properties.<\/p>\n

Also, while the current (Nevada Gaming Commission) Chairman Tony Alamo recently announced his decision to step down \u2026 Harris noted the deal could be approved without an acting chair – important, given prior appointments have sometimes seen lengthy processes,\u201d said SunTrust Robinson Humphrey analyst Barry Jonas in a note to clients.<\/p><\/blockquote>\n

The research firm recently held a conference at which Harris spoke. A former Republican state senator, Harris was the NGCB’s first female chairperson. She’s currently a sports betting fellow at UNLV’s International Center for Gaming Regulation.<\/p>\n

June Still in Play<\/h2>\n

While Harris didn’t pinpoint a date or even a month in which ERI’s takeover of the Caesars Palace operator will occur, Jonas did, saying he expects the marriage will be finalized in June. That jibes with some speculation swirling<\/a> on Wall Street.<\/p>\n

Entering 2020, it was widely expected that Eldorado would wrap up the acquisition in the second quarter. But some analysts believed a late first-quarter close was possible.<\/p>\n

\n

Caesars operates 53 gaming venues, while ERI has 23 casinos, all of which are temporarily shuttered by COVID-19. Harris said she doesn’t believe the companies will need to reopen their properties to gain regulatory approval in Indiana, Nevada, and New Jersey, reports Gaming Today.<\/i><\/p>\n<\/div>\n

In addition to the coronavirus presenting a hurdle to getting the deal done, the Indiana Horse Racing Commission (IHRC) expressed concern regarding what it perceives as ERI’s lack of horse racing experience. Caesars owns Hoosier Park and Indiana Grand<\/a> in the state.<\/p>\n

That issue should be worked through because Eldorado previously operated Presque Isle Downs & Casino in Pennsylvania and the Mountaineer Casino, Racetrack & Resort in Pennsylvania.<\/strong><\/p>\n

Regional Exposure Could be Helpful<\/h2>\n

ERI’s and Caesars’ regional portfolios could be helpful in gaining regulators’ approvals, notes Harris by way of Gaming Today, <\/i>because the combined company will be less dependent on Las Vegas to drive earnings and revenue. Eldorado doesn’t own any Sin City integrated resorts.<\/p>\n

The former NGCB chairwoman isn’t the first person to voice that theory. Some Wall Street analysts are making similar comments<\/a>, noting that even after COVID-19 subsides, gamblers may be reluctant to fly to Las Vegas. But they will get in their cars and drive to a casino that’s close to where they live.<\/p>\n

The stocks of ERI and Caesars are down an average of 55.74 percent year-to-date. As part of the deal terms, Caesars investors will receive 0.0899 Eldorado shares for each slice of Caesars equity they currently hold.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Former Nevada Gaming Control Board Chairwoman Becky Harris believes regulators will sign off on Eldorado Resorts Inc.’s (NASDAQ:ERI) $17.3 billion acquisition of rival Caesars Entertainment Corp. (NASDAQ:CZR). But she didn’t offer a guess as to when that might happen. The deal \u2013 announced last June \u2013 hit regulatory roadblocks because of the coronavirus outbreak. The […]<\/p>\n","protected":false},"author":46,"featured_media":133163,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[32093,13592],"tags":[],"acf":[],"yoast_head":"\nHarris Bets Eldorado Caesars Takeover Will Happen, no Date Offered Up<\/title>\n<meta name=\"description\" content=\"Former Nevada Gaming Control Board Chairwoman Becky Harris sees Eldorado's takeover of Caesars making it to the finish line.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Harris Bets Eldorado Caesars Takeover Will Happen, no Date Offered Up\" \/>\n<meta property=\"og:description\" content=\"Former Nevada Gaming Control Board Chairwoman Becky Harris sees Eldorado's takeover of Caesars making it to the finish line.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/harris-bets-eldorado-caesars-takeover-will-happen-no-date-offered-up\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2020-04-15T17:25:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-15T19:44:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/04\/cp-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"960\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/harris-bets-eldorado-caesars-takeover-will-happen-no-date-offered-up\/\",\"url\":\"https:\/\/www.casino.org\/news\/harris-bets-eldorado-caesars-takeover-will-happen-no-date-offered-up\/\",\"name\":\"Harris Bets Eldorado Caesars Takeover Will Happen, no Date Offered Up\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/harris-bets-eldorado-caesars-takeover-will-happen-no-date-offered-up\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/harris-bets-eldorado-caesars-takeover-will-happen-no-date-offered-up\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/04\/cp-1.jpg\",\"datePublished\":\"2020-04-15T17:25:50+00:00\",\"dateModified\":\"2020-04-15T19:44:27+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Former Nevada Gaming Control Board Chairwoman Becky Harris sees Eldorado's takeover of Caesars making it to the finish line.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/harris-bets-eldorado-caesars-takeover-will-happen-no-date-offered-up\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/harris-bets-eldorado-caesars-takeover-will-happen-no-date-offered-up\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/harris-bets-eldorado-caesars-takeover-will-happen-no-date-offered-up\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/04\/cp-1.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/04\/cp-1.jpg\",\"width\":1280,\"height\":960,\"caption\":\"Former NGCB Chairwoman Becky Harris sees Eldorado's pursuit of Caesars making it to the finish line. (Image: Barron's)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/harris-bets-eldorado-caesars-takeover-will-happen-no-date-offered-up\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Mergers and Acquisitions\",\"item\":\"https:\/\/www.casino.org\/news\/mergers-and-acquisitions\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Former Nevada Gaming Control Chair Bets Regulators Will Approve Eldorado Caesars Takeover\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\",\"name\":\"Todd Shriber\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"caption\":\"Todd Shriber\"},\"description\":\"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.\",\"sameAs\":[\"https:\/\/muckrack.com\/todd-shriber\",\"https:\/\/www.linkedin.com\/in\/toddshriber\/\",\"https:\/\/x.com\/etfgodfather\"],\"url\":\"https:\/\/www.casino.org\/news\/author\/todd-shriber\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Harris Bets Eldorado Caesars Takeover Will Happen, no Date Offered Up","description":"Former Nevada Gaming Control Board Chairwoman Becky Harris sees Eldorado's takeover of Caesars making it to the finish line.","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"Harris Bets Eldorado Caesars Takeover Will Happen, no Date Offered Up","og_description":"Former Nevada Gaming Control Board Chairwoman Becky Harris sees Eldorado's takeover of Caesars making it to the finish line.","og_url":"https:\/\/www.casino.org\/news\/harris-bets-eldorado-caesars-takeover-will-happen-no-date-offered-up\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2020-04-15T17:25:50+00:00","article_modified_time":"2020-04-15T19:44:27+00:00","og_image":[{"width":1280,"height":960,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/04\/cp-1.jpg","type":"image\/jpeg"}],"author":"Todd Shriber","twitter_card":"summary_large_image","twitter_creator":"@etfgodfather","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Todd Shriber","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/harris-bets-eldorado-caesars-takeover-will-happen-no-date-offered-up\/","url":"https:\/\/www.casino.org\/news\/harris-bets-eldorado-caesars-takeover-will-happen-no-date-offered-up\/","name":"Harris Bets Eldorado Caesars Takeover Will Happen, no Date Offered Up","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/harris-bets-eldorado-caesars-takeover-will-happen-no-date-offered-up\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/harris-bets-eldorado-caesars-takeover-will-happen-no-date-offered-up\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/04\/cp-1.jpg","datePublished":"2020-04-15T17:25:50+00:00","dateModified":"2020-04-15T19:44:27+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85"},"description":"Former Nevada Gaming Control Board Chairwoman Becky Harris sees Eldorado's takeover of Caesars making it to the finish line.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/harris-bets-eldorado-caesars-takeover-will-happen-no-date-offered-up\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/harris-bets-eldorado-caesars-takeover-will-happen-no-date-offered-up\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/harris-bets-eldorado-caesars-takeover-will-happen-no-date-offered-up\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/04\/cp-1.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/04\/cp-1.jpg","width":1280,"height":960,"caption":"Former NGCB Chairwoman Becky Harris sees Eldorado's pursuit of Caesars making it to the finish line. (Image: Barron's)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/harris-bets-eldorado-caesars-takeover-will-happen-no-date-offered-up\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Mergers and Acquisitions","item":"https:\/\/www.casino.org\/news\/mergers-and-acquisitions\/"},{"@type":"ListItem","position":3,"name":"Former Nevada Gaming Control Chair Bets Regulators Will Approve Eldorado Caesars Takeover"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85","name":"Todd Shriber","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","caption":"Todd Shriber"},"description":"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.","sameAs":["https:\/\/muckrack.com\/todd-shriber","https:\/\/www.linkedin.com\/in\/toddshriber\/","https:\/\/x.com\/etfgodfather"],"url":"https:\/\/www.casino.org\/news\/author\/todd-shriber\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/133155"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=133155"}],"version-history":[{"count":0,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/133155\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/133163"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=133155"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=133155"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=133155"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}